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Mitt Romney Attacks Flat Tax
Republican presidential hopeful Mitt Romney said he would like to overhaul some elements of the federal tax system if he reaches the White House, but he ruled out support for the flat tax. During a campaign swing in Iowa, the former Massachusetts governor told reporters: "I look to say, ‘Can we make the tax rates lower for all Americans? Can we make the tax on savings, particularly on middle-income Americans, disappear?’” He said he opposed implementing a flat income tax, calling the concept "unfair.” GOP rival Rudolph Giuliani has said he would consider a flat tax, according to The Politico. A flat tax system would tax all household income at the same rate, as opposed to the graduated rates of the current system.
Story Continues Below Republican Steve Forbes advocated a flat tax when he ran for president in 1996, and the flat tax has already been adopted in a number of European countries. Romney’s tax talk last week coincided with the debut of a new campaign ad in which he vowed that as president, he would ensure that federal spending on programs other than defense grows more slowly than the inflation rate.
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